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Sirius signs POLY4 supply agreements with Chinese companies

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World Fertilizer,

Sirius Minerals Plc has announced that it has signed binding take-or-pay supply agreements to supply POLY4 to Guangzhou Eiliseng Biotech Co. Ltd and Yantai Service Agricultural Science and Technology Co. Ltd (YSA).

The agreements were signed with both companies for the resale of POLY4 into certain southern and northern provinces of China. Both agreements have 10-year terms, which run from first production and pricing mechanisms linked to relevant product benchmarks that are consistent with the company’s existing portfolio of agreements. The agreement with Eiliseng is for 1.2 million tpy, whilst the agreement with YSA is for 800 000 tpy.

In China, government-enforced changes in agricultural practices and planned farm consolidation will support the drive to restore soil efficiencies through the adoption of more balanced and environmentally sustainable fertilization practices.

In the statement, Sirius claims that it has carried out more than 320 successful agronomy trials on 35 types of crop in 23 countries. These trials have demonstrated the benefits of POLY4 as a multi-nutrient fertilizer with a low environmental impact that delivers greater nutrient uptake and can improve both yield and quality.

Sirius claims that these latest agreements build on multiple deals that have been signed across the region with distributors including leading agri-business, Wilmar Group – a major fertilizer buyer and distributor in Southeast Asia.

Taking the minimum volumes under the new Chinese agreements into account, Sirius’ aggregate peak contracted take-or-pay volumes have increased from 4.7 million tpy to 5.7 million tpy.

The Managing Director and CEO of Sirius, Chris Fraser, said: “China is a key market for POLY4 and we are very pleased to have signed agreements with new customers who both have established fertilizer distribution networks and expertise relevant to their respective regions. We look forward to working with Eiliseng and YSA to establish POLY4 as a long term sustainable fertilizer for use in both of their important agricultural regions in China.”

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